What is 'Too Frugal'?

Got up bright, early and motivated in my Friday off.  Last night I planned ahead and sorted the laundry(4 baskets!) so I could get going on it first thing in the morning.  My goal was to get out, get the laundry done, then be home before SWMBO was out of the shower.  This has been out pattern my last couple of Friday's off...not exciting, but SWMBO gets to sleep in, and I get to feel like I am accomplishing something.  We have found that taking larger loads to the laundromat feels more efficient than running up and down the stairs at our apartment, doing 50% more loads to get it all done.

Mission accomplished, I arrived back home to find my girls dressed and ready to start the day.  They got to start the day by putting away the laundry I brought home.  They like to be helpful and involved, and I think it is a parents job to let them feel like they are contributing.  Plus, it's less for me to do.

Now I have a few minutes to kill while my wife takes her bath/shower.  I think our plan for the day involves bowling, or some such 'family' activity.  In the meantime, I stumbled across a story this morning about how Gen Y might be too frugal for their own good.  Since on the outside this seems like a totally null concept to me, I took a quick peak at the article. 

First...it's not really an article...it's a few quick snippets from a new book that was just released disguised as an article.  The book in question is called Not Quite Adults, and appears to be about how it is taking the current crop of 20-somethings longer to reach the milestones of typical adulthood...like finishing school, getting a REAL job, getting married and having kids.  They even go out on a limb and suggest that properly done, this slow approach to life could be better.

No crap...really?  You mean easing into life, instead of jumping right into hundreds of thousands of dollars worth of student loan debt and mortgages on houses that are bigger than you NEED might be a smarter way to do things?

The real target audience for this book at the 40-50 year old parents who DID go out and create record amounts of debt, because they wanted everything their parents had, but the didn't realize it took 20 years for their parents to get what they had.  And now, they are pressuring to their kids(the 20-somethings) to go out and 'Get in the Game'.  Oh, and please move out of the basement while you are at it. 

I'm not going to tear apart the whole article...family time awaits, but a few things come to mind.  First and foremost, I detest, DETEST this idea that 'typical adulthood' involves finishing school.  This is perhaps one the largest stereotype that I would love to see turned on it's head.  Yes...going to college, or some form of higher education CAN help you out, if you learn the right stuff.  I think 2 years dedicated to getting you LPN(and not just because that's what my wife did) is about a 1724% more efficient life choice than getting a Bachelors in Liberal Arts.  Learn a trade, learn a skill...if there is a certification involved, even better...get the certificate.  But STOP TRYING TO CONVINCE PEOPLE THEY CAN'T SUCCEED WITHOUT A FOUR YEAR DEGREE!!!!!!!!

Okay.  Next key concept:  The authors' research suggests that GenY is so frugal that they might take their fear of debt too far, and avoid even good investments such as college, home purchases, and small business start-up costs.  


That is traditional thinking...see above for my feelings on college being a good investment.  Home purchases haven't been a 'good' investment for a while, in terms of going to make you money.  It's looking more and more like I am going to be lucky to get out of my house in Belfair more than a couple of thousand ahead.  Figure in property tax and other ownership costs, and, it's not likely I am going to show a profit of any sort from being a homeowner.  If I had rented an adequately sized condo, and put my savings into gold/silver...THAT would have been a good investment.  

That frugality could last a lifetime. 

And that is a bad thing? 

Parents can help their 20-somethings by treating them like adults.

Very true...just because Jimmy might be sleeping in the basement is no reason to give him a free ride.  If he is that unemployed/broke that he can't help pay for rent or food, than put him to work around the house...give him a Honey-Do list.  TANSTAAFL.